The Canada-United States-Mexico Agreement (CUSMA), as amended by the Protocol of Amendment signed December 10, 2019, represents a major overhaul of the now-dated 1994 North American Free Trade Agreement (NAFTA). However, it is unusual in that it has little traditional tariff liberalization,...

After 26 years of trading under the North American Free Trade agreement (NAFTA), Mexico and its North American partners enter a new phase with the entry into force of United States-Mexico-Canada Agreement (USMCA) on 1 July 2020. This note quantifies the potential impact of the agreement on...